America Movil Share News

KPN In Advanced Talks With Telefonica About E-Plus Sale-Report

AMSTERDAM -(Dow Jones)- Dutch telecoms company Royal KPN NV (KPN.AE) is in advanced talks with Spain's Telefonica SA (TEF) about the possible sale of its German mobile business, Dutch public broadcaster NOS reports Friday, without citing sources. KPN said earlier Friday it will review all options for E-Plus, aimed to unlock more superior value to the offer of EUR8 a share from Mexico's America Movil SAB de CV (AMX) on part of KPN's shares. America Movil launched a cash offer in a bid to raise its stake in the Dutch telecom company to 27.7% from 4.8%. KPN has deemed the offer as too low and since hired investment banks to review its strategic options. KPN and Telefonica weren't immediately available for comment. -By Robin van Daalen; Dow Jones Newswires; +31 20 571 52 01; robin.vandaalen@dowjones.com